BREAKING: Pure Gasoline Cars Fall Below 50% of Global New Car Sales
Pure gasoline powered vehicles accounted for just 49% of global new car sales in H1 2026, falling below 50% for the first time, according to Mobility Global data.
The share has dropped sharply from 73% in 2021, while the overall auto market contracted about 5% in H1.
Gasoline vehicle sales fell 26% in China and 13% in Europe, with higher fuel prices accelerating the shift toward lower operating cost vehicles.
Pure EV sales rose 32% in Europe to 1.81 million, 81% in Southeast Asia to 350,000, and more than doubled in Oceania to 110,000.
BREAKING: Goldman Opens $100 Billion Treasury Fund to Crypto Firms
Goldman Sachs is making its roughly $100 billion FTIXX Treasury fund available to institutional crypto firms through the Lynq settlement network, according to CoinDesk.
Unlike BlackRock’s tokenised BUIDL fund, Goldman is keeping FTIXX in its traditional format and using Lynq as a distribution channel.
More than 30 crypto native firms on Lynq, including Wintermute and Galaxy, can now use the fund to earn yield on idle cash between trades.
The move expands institutional access to traditional Treasury fund yields without Goldman launching a blockchain based fund.
BREAKING: Goldman Turns Bullish on Yen, Sees ¥150 per Dollar in 12 Months
Goldman Sachs raised its 12 month yen target to ¥150 per dollar from a previous bearish target of ¥165.
The bank also raised its 3 month target to ¥158 and 6 month target to ¥155.
Goldman cited faster than expected BOJ rate hikes and a higher likelihood of Japanese capital being repatriated into domestic assets.
Strategist Karen Leischgott Fishman said these developments increase the attractiveness of long yen positions, particularly if markets face rising recession concerns.
BREAKING: Goldman Says AI Stocks Attractive as Cloud Capex Set to Hit $1.2 Trillion
Goldman Sachs’ Timothy Moe said AI related stocks remain attractive despite higher government bond yields, with the firm in the “longer for longer” camp on interest rates.
Ultra scale cloud providers are expected to spend about $800 billion on capex this year, rising to roughly $1.2 trillion by 2027, supporting Asian AI hardware demand.
Asian equities trade at around 10x PE, near the low end of their historical range, while earnings growth could provide support in a high rate environment.
Moe expects volatility to persist through the US midterms, with energy prices and geopolitical risks weighing on markets, but sees scope for a year end rally if earnings and valuations recover.
BREAKING: Fed’s Williams Signals Another Rate Hike, US 10Y Yield Hits 5.14%
Fed’s Williams said another rate hike before year end would be reasonable, citing significant inflation challenges and strong AI demand.
The U.S. 10 year Treasury yield rose 2 bps to 5.14%, highest since 2007, while the 30 year yield climbed 3 bps to 5.435%.
Spot gold fell more than $10 to around $4,270 an ounce as yields rose.
Germany’s 10 year yield reached 3.57%, highest since 2009, while Norway’s central bank raised rates 25 bps to 4.50% and signaled rates may stay elevated.
🚨 BREAKING: Gold stays under pressure as dollar firms and Treasury yields hit multi year highs
Gold remained muted around $4,300 per ounce, with NY gold futures flat at $4,316.30 as a stronger dollar and elevated US Treasury yields weighed on the metal.
Mitsubishi UFJ analysts said Fed officials remain hawkish, while Fed board member Barr indicated further tightening may be needed.
Markets are pricing in at least three more Fed rate hikes by April, keeping pressure on gold as higher yields increase the opportunity cost of holding the metal.
Persistent energy driven inflation and multi year high Treasury yields remain major headwinds for gold.
BREAKING: Japan 10 Year JGB Yield Hits 3.075%, Yen Nears 160 per Dollar
Japan’s 10 year JGB yield jumped 10 bps to 3.075%, the highest since 1996, while the 5 year yield rose 9.5 bps to 2.37%.
The move followed a U.S. Treasury selloff, rising oil prices and expectations of further Fed tightening, alongside expectations for more BOJ rate hikes.
The yen weakened for a second straight week, pushing USD/JPY toward the closely watched 160 level.
Markets are watching 160 as a potential trigger for renewed Japanese intervention concerns if the yen weakens rapidly.
BREAKING: Hedge Funds Cut Treasury Basis Trades From $1.26T to $900B
Morgan Stanley estimates leveraged participation in the U.S. Treasury basis trade has fallen from $1.26 trillion at the start of 2026 to about $900 billion.
The strategy has shrunk to its smallest scale in more than two years as futures cash spreads and market dislocations narrow.
Citigroup and Morgan Stanley say the trade is not disappearing, but weaker relative value opportunities and lower volatility have reduced hedge fund activity.
The slowdown could also mean stronger than expected underlying demand for U.S. Treasuries as hedge funds provide less liquidity.
🚨 BREAKING: Fed Raises Rates by 25 Bps, Signals Another Hike in 2026
The Federal Reserve raised its federal funds target range by 25 bps to 3.75% to 4.00%, its first rate hike since July 2023 and ending the longest pause since 2008.
The decision was unanimous and in line with expectations. The Fed said higher rates will support a more timely return of inflation to its 2% target.
The FOMC dot plot shows one additional rate hike in 2026, while the median end 2026 rate forecast rose to 4.1% from 3.8% in June.
The move could support the U.S. dollar and Treasury yields while adding pressure to equities, with markets now focused on the Fed’s path beyond this meeting.